UAE's Dana, Crescent to build Yemen "gas city"

UAE firms Dana Gas and Crescent Petroleum said on Wednesday it had signed a memorandum of understanding with Yemen to build a "gas city" in the Arab state facing dire economic straits and a revolt.

"(Gascities) has reached an agreement with the Yemeni government to investigate the development of its proprietary gas city concept within Yemen," a statement said, referring to the Gascities Ltd joint venture between Dana Gas and its parent company Crescent Petroleum.

"Gas cities" are large, gas-fed industrial complexes housing petrochemical and heavy manufacturing plants. Dana Gas and Crescent plan to build at least four in the Middle East and North Africa, including in Egypt.